Earnings/Financial Reports
DACUN TOWNSHIP, Taiwan (BRAIN) — Taiwan bike makers Merida Industries and Ideal Bike are each reporting first-half comprehensive losses as the Taiwan dollar gains strength against most currencies. Giant and Shimano also have recently blamed poor earnings reports, in part, on exchange rates.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. second-quarter revenue slid 18% year-over-year with retail and online channels decreasing 19% and 16% respectively.
TAIPEI (BRAIN) — Giant Group says its inventory-to-asset ratios have returned to "healthy pre-pandemic standards" following an inventory streamlining program. The company also said sales to its original equipment customers were up 30% in the first half of its fiscal year.
DULUTH, Ga. (BRAIN) — Fox Factory produced sales increases across all three of its divisions in the second quarter, with sales in its Specialty Sports Group — which includes its bicycle-related brands — up 11% over the same period last year.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation posted its fourth consecutive period of growth with revenue increasing 61% in the second quarter led by double-digit expansion in all major product categories.
KOBLENZ, Germany (BRAIN) — Canyon’s sales in the first half were 398 million euros ($464 million), down about 5% from the first half last year.
OLATHE, Kan. (BRAIN) — Demand for fitness products helped Garmin Ltd. report record consolidated revenue for the second quarter, and the company also announced the acquisition of MYLAPS, a Dutch integrated timing company for running, cycling, and motorsports.
OSAKA, Japan (BRAIN) — Shimano bike division net sales in the first half increased 11.6% year-over-year with the component giant saying strong global interest continues despite inventory remaining high in some regions. In North America, Shimano said retail sales of bikes remained weak while inventory was appropriate.
STOCKHOLM (BRAIN) — Thule Group's net sales in the company's second quarter were up 9.8%, largely thanks to the addition of Quad Lock revenue to the mix. Thule announced it was buying Quad Lock last November.
STOCKHOLM (BRAIN) — Helmet technology brand MIPS reported that sales were up 16% for the first half of the year, with helmet manufacturers initially stalling orders until they got more clarity on tariffs.
TAIPEI, Taiwan (BRAIN) — Giant Group’s revenues in the first half of the year totaled NT$32.6 billion ($1.1 billion), down 12.4% from the same period last year.
EL PASO, Texas (BRAIN) — Helen of Troy, parent company of Osprey and Hydro Flask, reported net sales decreased 10.8% year-over-year in the first quarter with the interim CEO saying tariffs impacted the bottom line.
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